Social Issues

Last October we wrote about the unfortunate situation in Loyalton, California whereby CalPERS was threatening to slash pension payments to a group of retired city workers after their City Council members failed to understand basic pension accounting and the unintended consequences of terminating their plan (see "Pension Benefits In Tiny California Town To Be Slashed As "Ponzi Scheme" Is Exposed").  Now it seems as though retirees of the East San Gabriel Valley Human Services Consortium may be facing a similar fate after their former municipal employer failed to pay their pension due

Yesterday we asked in lieu of actual details in today's Trump speech, what adjective(s) would Trump pick to spark S&P and USDJPY momentum igniition algos, while overemphasizing his fiscal plan and deflecting from the lack of substance:

What adjective in Trump's speech tomorrow will algos react most strongly to

— zerohedge (@zerohedge) February 28, 2017

Just over a month ago we wrote about the Obama administration's parting middle finger to the Chicago police force after the Department of Justice, led by then Attorney General Loretta Lynch, released what appeared to us to be a politically motivated report accusing the CPD of a "pattern of racial discrimination" and "unconstitutional use of force."  And while the DOJ's 164-page report was heavy on accusations and innuendo, it was mysteriously lacking on scientific facts to support their highly controversial claims.  Here's how we summarized the DOJ's findin

The New York Teamsters Road Carriers Local 707 Pension Fund has won the unfortunate award for "First Pension to Officially Run Out of Money."  According to the New York Daily News, and a host of angry former truck drivers who've had their pension benefits slashed, the Pension Benefit Guaranty Corp. (PBGC) has officially been forced to step in and take over payments to retirees of the Local 707, albeit at a much lower rate.

Teamsters Local 707’s pension fund is the first to officially bottom out financially — which happened this month.

 

In an interview with Fox & Friends that aired early Tuesday morning, President Trump blamed former President Obama for protests against him and other Republicans, as well as "possibly" some of the leaks from the White House: “I think President Obama’s behind it, because his people are certainly behind it."